Brookfield Property Partners LP (BPY) Stock Price Down 1.6%
Shares of Brookfield Property Partners LP (NYSE:BPY) dropped 1.6% on Monday . The stock traded as low as $23.07 and last traded at $23.13, with a volume of 134,073 shares changing hands. The stock had previously closed at $23.50.
BPY has been the topic of several recent research reports. TheStreet upgraded Brookfield Property Partners from a “sell” rating to a “hold” rating in a report on Monday, March 21st. Zacks Investment Research downgraded Brookfield Property Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Brookfield Property Partners in a research report on Friday, May 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Brookfield Property Partners currently has a consensus rating of “Buy” and a consensus price target of $27.40.
The firm has a market cap of $6.08 billion and a P/E ratio of 8.02. The company’s 50-day moving average is $23.74 and its 200 day moving average is $22.42.
Brookfield Property Partners (NYSE:BPY) last issued its quarterly earnings results on Friday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter. The firm earned $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. On average, analysts expect that Brookfield Property Partners LP will post $2.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, May 26th.
Other hedge funds have recently modified their holdings of the company. Advantus Capital Management Inc purchased a new stake in shares of Brookfield Property Partners during the fourth quarter worth about $1,301,000. Toronto Dominion Bank raised its stake in shares of Brookfield Property Partners by 8.2% in the fourth quarter. Toronto Dominion Bank now owns 93,545 shares of the company’s stock worth $2,178,000 after buying an additional 7,060 shares in the last quarter. ING Groep purchased a new stake in shares of Brookfield Property Partners during the third quarter worth about $2,853,000. Morgan Stanley raised its stake in shares of Brookfield Property Partners by 2.6% in the fourth quarter. Morgan Stanley now owns 445,416 shares of the company’s stock worth $10,351,000 after buying an additional 11,186 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Brookfield Property Partners by 2.3% in the fourth quarter. Bank of Montreal Can now owns 803,652 shares of the company’s stock worth $18,677,000 after buying an additional 18,447 shares in the last quarter.
Brookfield Property Partners L.P. is a commercial property Company. The Company owns, operates and invests in office, retail, multifamily and industrial assets. The Company’s operating segments include Office, Retail, Industrial, Multifamily, Hotels, Triple Net Lease, and Corporate. Triple Net Lease includes Capital Automotive Real Estate Services Inc (CARS), which owns the real estate for more than 300 automotive dealerships across North America and leases it on a triple net lease basis.
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